Does Brazil allow crypto? The Real has been the fiat currency in Brazil since 1994 and it has exclusive legal tender. Even though cryptocurrencies and other similar virtual assets may be privately used as alternative payment methods, they are classified as goods or movable property.
Is crypto taxable in Brazil? This week, the Brazilian Federal Reserve Board (RFB) announced that investors are required to pay income taxes on converting one cryptocurrency to another, and trading crypto pairs incurs a tax liability regardless of whether there was an intermediary conversion to the the Brazilian real, the country’s local currency.
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Is Binance allowed in Brazil? Replacing Capitual, Binance is now operating with the Brazilian payments platform Latam Gateway, which uses the bank accounts hosted by BS2, a bank licensed by the Central Bank of Brazil (BC) to access the Pix network.